Adams & Co. completed a 28,128 s/f new lease at 53 West 23rd Street for sports and entertainment presenter, AEG Live.
The company, which recently acquired live music promoter Bowery Presents, will use the entire fifth floor of the 12-story building as a combined office space for the new organization.
James Buslik, Alan Bonett and Bradley Cohn from Adams & Co. represented the landlord, Twenty Three R.P. Associates, while Lance Korman from Newmark Grubb Knight Frank represented tenant.
Although the full details of the transaction were not disclosed, asking rent was $66 psf.
“Finding nearly 30,000 s/f of contiguous office space near Madison Square Park can be a challenge. 53 West 23rd Street exceeded AEG Live’s expectations by providing open full-floor layouts, as well as high-end office features and a close proximity to the park,” said Buslik, principal of Adams & Co.
“A $3 million renovation was also recently completed at 53 West 23rd Street, which transformed the lobby into a vibrant entrance that better reflected the sleek features throughout the rest of the building. Since the update, the property has attracted top-name tenants including W.B. Mason, New York Presbyterian Hospital and now AEG Live.”
Built in 1915, 53 West 23rd Street is a 12-story building located between Fifth and Sixth Avenues. It underwent a major lobby transformation in 2016 to expand the existing space and restore segments of the original terracotta entrance.
Notable office tenants include Flywheel, Anthony Lawrence of NY and 4Kids Entertainment, with P.C. Richard & Son in the property’s retail space.
AEG Live has a tour roster that includes Jennifer Lopez, Justin Bieber, Kanye West, Taylor Swift and Kenny Chesney.
